(I can kill this slide – but I do think it is powerful.) Combining competitor study and trends – I understand REI is very focused on Amazon. And that is a good thing. Amazon has done a good job of identifying and implementing new solutions aligned with trends. It was early to build warehouses to stock and sell other people’s products. It was early to design an “on-line store module” that let small operations sell through Amazon. It was early to build an interface designed for mobile devices – not just the generic web and browsers. And it was early with a digital e-reader. Amazon has moved a long way from being a seller of hard-to-find books – and in the process it has used its understanding of trends to really GROW. Learn from them. What can REI do to implement TRENDS – what can be your Kindle?
Richard Branson created a company designed around White Space. From a record retailer he launched an international airline! He fears no market – and he is willing to consider anything. Not all make money, so some go. But he never stops. You could submit a business idea to Virgin – just like employees do – by going to their web site. What he looks for are markets with insufficient competition, and places where he doesn’t have to go toe-to-toe with competitors. A multi-billion dollar business built on the concept of White Space. These are just a few of the Virgin businesses.